Bleak quarter for Le Saunda Holdings
Footwear company Le Saunda Holdings is treading on thin ice as sales drop – including a 36.2 per cent slump in its e-commerce business – and its store numbers shrink.
Unaudited data for its first quarter shows a 13 per cent drop in total retail sales, while same-store sales declined 9.7 per cent quarter-on-quarter.
As at May 31, the group had a total retail network of 774 outlets in Mainland China, Hong
Kong and Macau – a decrease of 98 outlets.
These comprised 699 self-owned stores in China, Hong Kong and Macau, and 75 franchised outlets on the mainland.